NETGEAR (NASDAQ:NTGR) Sets New 12-Month High – Still a Buy?

NETGEAR, Inc. (NASDAQ:NTGR)’s stock price hit a new 52-week high on Friday . The company traded as high as $22.79 and last traded at $22.78, with a volume of 57889 shares traded. The stock had previously closed at $21.92.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of NETGEAR from a “hold” rating to a “buy” rating in a research note on Friday.

NETGEAR Trading Up 3.9 %

The business’s 50 day simple moving average is $19.46 and its two-hundred day simple moving average is $16.18. The firm has a market capitalization of $653.31 million, a PE ratio of 35.05 and a beta of 0.82.

NETGEAR (NASDAQ:NTGR) last posted its quarterly earnings data on Wednesday, July 31st. The communications equipment provider reported ($0.94) EPS for the quarter, meeting analysts’ consensus estimates of ($0.94). The company had revenue of $143.90 million during the quarter, compared to analysts’ expectations of $132.69 million. NETGEAR had a negative return on equity of 8.06% and a net margin of 2.88%. As a group, equities research analysts anticipate that NETGEAR, Inc. will post -1.97 earnings per share for the current year.

Insider Activity at NETGEAR

In other news, Director Thomas H. Waechter sold 2,500 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $20.00, for a total value of $50,000.00. Following the completion of the sale, the director now directly owns 65,318 shares in the company, valued at $1,306,360. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 7.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NETGEAR

Hedge funds have recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in shares of NETGEAR during the 1st quarter valued at $30,000. Values First Advisors Inc. purchased a new position in shares of NETGEAR in the third quarter valued at about $144,000. Allspring Global Investments Holdings LLC boosted its stake in shares of NETGEAR by 229.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,940 shares of the communications equipment provider’s stock worth $157,000 after acquiring an additional 6,921 shares during the period. State Board of Administration of Florida Retirement System purchased a new stake in shares of NETGEAR during the first quarter worth about $176,000. Finally, Creative Planning purchased a new stake in shares of NETGEAR during the third quarter worth about $235,000. 82.97% of the stock is currently owned by institutional investors.

About NETGEAR

NETGEAR, Inc provides connectivity solutions the Americas; Europe, the Middle East, Africa; and the Asia Pacific. The company operates in two segments, Connected Home, and NETGEAR for Business. The Connected Home segment offers Wi-Fi routers and home Wi-Fi mesh systems, Wi-Fi hotspots, digital displays, broadband modems, Wi-Fi gateways, Wi-Fi range extenders, powerline adapters, and Wi-Fi network adapters; and provides value-added service offerings, including security and privacy, technical support, and parental controls.